Anthropic signs $10 billion deal with a months-old startup, routing compute through a bitcoin miner's Norway data center

A seven-month-old startup has signed a $10 billion, six-year cloud computing contract, reportedly with Anthropic, with the compute flowing through a bitcoin miner's data center in Norway.

Bloomberg reported the Anthropic connection on August 4, 2026, citing anonymous sources familiar with the matter who requested anonymity because the deal is not public. Reuters said it could not independently verify the report. Anthropic declined to comment, and Volta did not immediately respond to a request for comment. 1

The startup, Volta Infra Holdings, was founded in early 2026 by former managers from asset manager Brookfield. It raised $300 million in seed and Series A financing at a $2.4 billion valuation, with backing from Andreessen Horowitz, Altimeter Capital, Azora, Nvidia, and Michael Dell. 2 1

The math: $10 billion against $300 million

Volta's $10 billion contract is worth 33 times the $300 million it has raised. Spread over six years, that is roughly $1.67 billion per year, more than five times the company's total funding. Against Volta's $2.4 billion valuation, the deal is worth roughly 4.2 times what investors value the entire company at. 1

The agreement covers a 133-megawatt data center in Tydal, Norway, operated by Bitdeer Technology, a crypto mining firm. Measured against that capacity, the contract values the compute at roughly $75 million per megawatt over six years, or about $12.5 million per megawatt annually. 1

For comparison: established bitcoin miners that pivoted to AI have landed large contracts of their own. TeraWulf secured a $6.7 billion AI computing agreement, and Hut 8 signed a $7.0 billion deal. Volta's $10 billion surpasses both, despite being months old. 3

Whether the $10 billion is fully committed or contingent on delivery milestones is not disclosed in any of the reporting. Volta said the Norway site is the first in a development pipeline exceeding one gigawatt of near-term power capacity across North America and Europe. 1

Bitcoin mines become AI factories

Bitdeer Technology is doing what a growing number of crypto mining firms are doing: converting energy infrastructure built for bitcoin into AI compute capacity. The Tydal site runs on hydropower and will house Nvidia's next-generation Vera Rubin chip systems, with capacity handed over in two phases through March 2027. Bitdeer's stock jumped 14 percent after the announcement. 2

The pivot accelerated after the April 2024 bitcoin halving compressed mining margins. By early 2026, CleanSpark, a mining firm, said bitcoin mining investment "doesn't make a lot of sense" at current profitability compared to AI infrastructure returns. The cost to build AI-ready facilities has reached approximately $8 million to $11 million per megawatt. 3

Volta is part of Nvidia's Cloud Partner program, a consortium of AI cloud providers that use Nvidia's GPUs in their data centers. 4

Anthropic's compute scramble

The Volta deal adds to a string of computing and investment agreements Anthropic has signed as it races to lock up infrastructure. According to Reuters, those include:

• SpaceX
• Amazon
• AMD
• Microsoft
• Nvidia
• Alphabet
• Micron Technology

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Nvidia sits on every side of the table

The structural detail the reporting does not foreground is Nvidia's position across this deal. Nvidia invested in Volta. Nvidia manufactures the Vera Rubin chips the Norway data center will deploy. Nvidia runs the Cloud Partner program Volta belongs to. And Nvidia has its own direct compute agreement with Anthropic. If AI demand softens, Nvidia's exposure spans the entire chain: the startup it funded, the facility using its chips, and the customer buying its compute. 2 1

The first capacity at the Tydal site arrives in late 2026. Until delivery begins, the arrangement rests on Bloomberg's anonymous sourcing, a schedule that has not started, and a chipmaker invested in every link of the chain.